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09 February 2010

Greece is the talk of the town as stocks take a beating in the US session

Christian Blaabjerg, Chief Equity Strategist, Saxo Bank

Short positions against the EUR are at record levels, while there's an expectation forming that an announcement from the EU on the Greek situation is forthcoming.

The US will auction off $40bn in 3-year notes today out of a total of $81bn this week. Macro data is still in short supply, and UK Trade Balance and Wholesale Inventories are as exciting as it gets. The NFIB is interesting as an overview of how the important small business sector is doing in the US, but does not get much attention.

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